HUL-Kwality Walls demerger: Stock signals mild weakness; check value of ice-cream biz
HUL shares demerger: Shares of India's largest FMCG company, Hindustan Unilever (HUL), began to trade adjusted for the demerger of its ice cream business.
- Dec 5, 2025,
- Updated Dec 5, 2025 9:49 AM IST
HUL shares demerger: Shares of India's largest FMCG company, Hindustan Unilever (HUL), began to trade adjusted for the demerger of its ice cream business, which will be listed as a separate new entity named Kwality Walls (India). Today was the record date for the demerger of HUL's ice cream business. The stock showed 1.55 per cent fall at the open.
This meant that those who had shares of HUL in their demat account as of Thursday's closing, will be eligible to avail the demerger entitlement. Eligible shareholders of HUL will receive one share of the demerged Kwality Walls (India), for every one share of HUL that they own.
The stock had Rs 2,462.15 on Thursday and settled at Rs 2,424 on Friday, in the special trading session on Friday. Rs 38.15 was subtracted from HUL's stock price to determine its fair price value net of ice-cream business. However, the fair price value of Kwality Wall (India) will be determined on its listing day, when the exchanges will host another special trading session.
The company board of HUL had approved to spin-off or demerge its ice-cream business in November 2024. Kwality Walls (India) owns popular brands like 'Cornetto' and 'Magnum' in India. National Company Law Tribunal (NCLT) approved HUL's demerger scheme on October 30. Kwality Walls has a total annual revenue of Rs 1,800 crore, which is nearly 3 per cent of HUL's total revenue.
Beside the record date, HUL has fixed December 29 as the allotment date. It means that HUL shareholders whose names appear in the register of members as on the record date will be entitled to receive the shares of Kwality Walls (India) as part of the demerger scheme. The record date is set to determine the eligibility of the shareholders.
The futures & options (F&O) contracts for HUL expired on Thursday before the record date and fresh contracts will be issued from today. As part of the index adjustments, the demerged entity will be briefly added to as many as 35 Nifty indices at a zero price, using a dummy symbol 'DUMMYHDLVR'
Hindustan Unilever has not confirmed the date of listing of Kwality Walls (India). The FMCG major said that the process of allotment, credit of shares and listing of demerger units will be undertaken in the due course of time. However, SEBI rules specify that the demerger entity shall be listed within 60 days from the NCLT's approval.
HUL shares demerger: Shares of India's largest FMCG company, Hindustan Unilever (HUL), began to trade adjusted for the demerger of its ice cream business, which will be listed as a separate new entity named Kwality Walls (India). Today was the record date for the demerger of HUL's ice cream business. The stock showed 1.55 per cent fall at the open.
This meant that those who had shares of HUL in their demat account as of Thursday's closing, will be eligible to avail the demerger entitlement. Eligible shareholders of HUL will receive one share of the demerged Kwality Walls (India), for every one share of HUL that they own.
The stock had Rs 2,462.15 on Thursday and settled at Rs 2,424 on Friday, in the special trading session on Friday. Rs 38.15 was subtracted from HUL's stock price to determine its fair price value net of ice-cream business. However, the fair price value of Kwality Wall (India) will be determined on its listing day, when the exchanges will host another special trading session.
The company board of HUL had approved to spin-off or demerge its ice-cream business in November 2024. Kwality Walls (India) owns popular brands like 'Cornetto' and 'Magnum' in India. National Company Law Tribunal (NCLT) approved HUL's demerger scheme on October 30. Kwality Walls has a total annual revenue of Rs 1,800 crore, which is nearly 3 per cent of HUL's total revenue.
Beside the record date, HUL has fixed December 29 as the allotment date. It means that HUL shareholders whose names appear in the register of members as on the record date will be entitled to receive the shares of Kwality Walls (India) as part of the demerger scheme. The record date is set to determine the eligibility of the shareholders.
The futures & options (F&O) contracts for HUL expired on Thursday before the record date and fresh contracts will be issued from today. As part of the index adjustments, the demerged entity will be briefly added to as many as 35 Nifty indices at a zero price, using a dummy symbol 'DUMMYHDLVR'
Hindustan Unilever has not confirmed the date of listing of Kwality Walls (India). The FMCG major said that the process of allotment, credit of shares and listing of demerger units will be undertaken in the due course of time. However, SEBI rules specify that the demerger entity shall be listed within 60 days from the NCLT's approval.